Dubai World debacle cancels property expo

The Maharashtra Chambers of Housing and Industry that had planned a property exhibition in Dubai today has postponed it indefinitely. The reason is not clear though.

The Maharashtra Chambers of Housing and Industry that had planned a property exhibition in Dubai today has postponed it indefinitely. The reason is not clear though.

While the MCHI say the government of Dubai revoked their permission to conduct the exhibition, market
insiders attribute this sudden change of plans to the Dubai market crash.

Strangely a week ago, MCHI's international exhibition co-convener J Augustine had told MiD DAY that they were excited about going to Dubai, as they wanted to tap the emotional Indians who would invest in Mumbai beca-use of the bad market there.

Not now: The Dubai market crash affected a Maharashtra Chambers of Housing and Industry exhibition.

However, now another exhibition will be held in Dubai where Mumbai and India-based builders will showcase their properties.

Sunil Mantri, president-elect, MCHI, said, "Another exhibition was also scheduled for this month.

The Dubai
government did not want two exhibitions of the same industry in the same month. We may hold our exhibition
in January."